New Jersey’s new EV law has the following goals and requirements:
More EVs on the Road:
330,000 Plug-In EVs by 2025
2 Million Plug-In EVs by 2035
85% of vehicles sold/leased shall be Plug-In EVs by 2040
Increase in Publicly Accessible Charging Infrastructure:
400 DC Fast Chargers in at least 200 locations by 2025
1,000 Level 2 Chargers by 2025
15% of Multi-Family Residential Properties shall be equipped with EVSE by 2025
20% of Franchised Overnight Lodging Establishments shall be equipped with EVSE by 2025
Electrification of Fleets:
25% of State-Owned Non-Emergency Light Duty Vehicles shall be Plug-In EVs by 2025, 100% by 2035
10% of new bus purchases by NJ TRANSIT shall be Zero Emission Buses by 2024, 50% by 2026, 100% by 2032
EV Rebate Program:
$30 Million a year over the next decade
“Cash On The Hood” Rebates of up to $5,000 (based on total mileage & price)
Only Available for EVs with MSRP below $55,000
In addition to Federal Tax Credit and State Sales Tax Exemption–that’s a lot of savings!
More Information provided here.